Friday, June 6, 2025

Housing fund chief made 700,000 pesos a month but ‘extravagance is over’

The former head of the national housing fund, Infonavit, paid himself a handsome salary — because he could.

Speaking in Guerrero yesterday at a presentation on the national fertilizer program, President López Obrador repeated that excesses in government spending will no longer be tolerated, and used the former Infonavit chief as an example.

David Penchyna, the president said, earned a gross monthly salary of 700,000 pesos (US $37,000). His successor, on the other hand, is receiving substantially less.

The extravagance is over now, López Obrador said. “We’ve cut salaries of those at the top to increase the salaries of those at the bottom.”

The new Infonavit director, Carlos Martínez Velázquez, told a Wednesday press conference that the former director’s annual income had been set at 9.3 million pesos (US $487,000), a salary set by Penchyna himself.

In answer to a direct question from a reporter, Martínez said he had chosen a more modest salary for himself in keeping with the administration’s austerity program.

“Since I made a promise to the president, I set my salary — because Infonavit’s rules stipulate that I can give myself however much I want — at 107,500 pesos (US $5,600) a month net.” (In gross terms, that’s about 150,000 pesos.)

López Obrador reiterated his promise not to tolerate corruption and impunity under his watch and appealed to those present to be honest.

“What am I asking of you? Just that you implement the program well. I’m not asking you to learn how to use the fertilizer; you’re all experts. I am asking you to not resell the fertilizer, that there not be a black market for fertilizer, that we all behave well.”

Source: El Financiero (sp)

Have something to say? Paid Subscribers get all access to make & read comments.
workers in orange vests wade through water filled with sargassum seaweed

Record levels of sargassum could invade Quintana Roo beaches this summer

0
With millions of metric tons of seaweed floating in the Atlantic, the sargassum starting to pile up on Quintana Roo beaches is just the beginning.
several men seated at a dais

Governors of northeastern states agree to team up against border region insecurity

0
Repatriated immigrants are a rich source of crime victims near the border. Tamaulipas, Coahuila and Nuevo León want to work together to deal with the resulting rise in insecurity.
A woman picks up plastic bottles on a beach

National Beach Cleanup Strategy aims to eliminate plastic pollution

2
The new environmental plan kicked off Thursday with a national beach cleanup day, in honor of World Environment Day.